The milti-billion-dollar wealth management firm Aspiriant is mergomg with Hokanson Associates, a San Diego-based independent wealth management firm, at the end of this year, Aspiriant announced Tuesday.
Hokanson, which manages $570 million in assets for 270 clients, will become Aspiriant’s ninth office nationally. Aspiriant has offices in New York City, Los Angeles and San Francisco, among other locations, and provides investment management, wealth planning and family office services.
The deal is part of Aspiriant's planned growth, says Michael Kossman, chief operating officer for Aspirant. The firm grows by about 10 percent a year organically and this adds another 8 percent in growth to Aspiriant, which has $8.5 billion in AUM.
The new team, which will operate under the Aspiriant name, will have ownership shares in Aspiriant, giving the firm a total of 51 principals, Kossman says. Aspiriant is in varioous stages of talks with other firms for potential acquisitions or mergers, according to the firm.